Hybrid Electric Vehicle Market by Degree of Hybridization and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR70959
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The hybrid electric vehicle market has the potential to grow by 11347.27 thousand units during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 32.83%.

This hybrid electric vehicle market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by the degree of hybridization (full HEVs, mild HEVs, and PHEVs) and geography (APAC, Europe, North America, South America, and MEA). The hybrid electric vehicle market report also offers information on several market vendors, including BMW AG, Daimler AG, Ford Motor Co., Geely Automobile Holdings Ltd., General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Mitsubishi Motors Corp., Nissan Motor Co. Ltd., and Toyota Motor Corp. among others.

What will the Hybrid Electric Vehicle Market Size be in 2021?

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Hybrid Electric Vehicle Market: Key Drivers and Trends

The stringent regulations on emissions and fuel efficiency are notably driving the hybrid electric vehicle market growth, although factors such as the high total cost of ownership of HEVs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hybrid electric vehicle industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • One of the key drivers in the hybrid electric vehicle market growth is the stringent emission norms that have been introduced globally to minimize the negative effects of global warming.
  • The norm also imposes penalties of $5.58 on manufacturers that fail to meet requirements and exceed emission rates on the first g/km. Similarly, $16.73 for the second g/km, $27.88 for the third g/km, and $133.82 for each exceeding g/km after that.
  • The number of countries implementing emission standards has increased and the use of HEVs is expected to increase during the forecast period.

 

  • The incentives and tax benefits that are being provided by various countries to nullify the high cost of HEVs is another key factor supporting the growth of the hybrid electric vehicle market.
  • The introduction of fiscal incentives and subsidies by most of the top manufacturers for hybrids/electric vehicles to be produced locally.
  • The drive to push at least 50% green vehicles on the road will reduce global fuel emissions as well as the dependency on the Middle East for petroleum products.

This hybrid electric vehicle market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Hybrid Electric Vehicle Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • BMW AG
  • Daimler AG
  • Ford Motor Co.
  • Geely Automobile Holdings Ltd.
  • General Motors Co.
  • Honda Motor Co. Ltd.
  • Hyundai Motor Co.
  • Mitsubishi Motors Corp.
  • Nissan Motor Co. Ltd.
  • Toyota Motor Corp.

 

This statistical study of the hybrid electric vehicle market encompasses successful business strategies deployed by the key vendors. The hybrid electric vehicle market is concentrated and the vendors are deploying growth strategies such as utilizing collaborations to compete in the market. BMW AG and Hans Zimmer partnered to co-develop the emotionally engaging driving sound for electrified BMW M models. The company also collaborated with Digital Charging Solutions GmbH to accelerate the growth of electrification to introduce two vehicles, iX, and i4, which have advanced driving and connectivity options.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The hybrid electric vehicle market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Hybrid Electric Vehicle Market?

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44% of the market’s growth will originate from APAC during the forecast period. China is the key market for the hybrid electric vehicle market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Automobile manufacturers are diversifying the product portfolio to concentrate on the different dynamics of the market. The increase in the addressable market will facilitate the hybrid electric vehicle market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Degree of Hybridization Segments in the Hybrid Electric Vehicle Market?

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The hybrid electric vehicle market share growth by the full HEVs segment will be significant during the forecast period. Full HEV is one of the key segments of the hybrid vehicle industry. This vehicle segment has been the first option for many new car buyers globally. The aggressive promotion by manufacturers by introducing a wide range of models has been able to conclude that buyers of passenger cars prefer full HEVs to PHEVs. With the decline in the Li-ion battery cost and the launch of new models, the full HEVs segment will witness a higher growth rate.

This report provides an accurate prediction of the contribution of all the segments to the growth of the hybrid electric vehicle market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Hybrid Electric Vehicle Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive hybrid electric vehicle market growth during the next five years
  • Precise estimation of the hybrid electric vehicle market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hybrid electric vehicle industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hybrid electric vehicle market vendors

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Hybrid Electric Vehicle Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 32.83%

Market growth 2021-2025

11347.27 th units

Market structure

Concentrated

YoY growth (%)

25.45

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 44%

Key consumer countries

China, Germany, US, France, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

BMW AG, Daimler AG, Ford Motor Co., Geely Automobile Holdings Ltd., General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Mitsubishi Motors Corp., Nissan Motor Co. Ltd., and Toyota Motor Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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